LionFXM is a dangerous scam pretending to be a legitimate Forex and CFDs broker. LionFXM is primarily targeting Italian customers. But we want to let you know that fooling around with this broker will make you lose your investment in a minute. As you can see, their website is cheaply done. One cannot be convinced that they are a serious broker. LionFXM repeats the same generic stuff that is found in other scam sites. For example, they advertise instant market execution, tight spreads and zero commission. They also want to remind us that trading on the LionFXM platform is possible whether you are using PC or mobile device. We do not want to hear the same things being repeated over and over again. We want a broker that is innovative with their products.
We’re aware that LionFXM is already blacklisted by the Italian financial regulator, Consob. So the only trick they can use on unwitting investors is to lie about the quality of services they offer without prompting suspicion, thus triggering investors to check out their standing with the financial watchdog.
LionFXM Review: About the scam company
When we peruse the website for more information, we find pretty cheap lies in their marketing materials. They lie that the staff has decades of experience in the financial markets.
Furthermore, they tell us that their customer support is rated 5 star. Really? Who rated them 5 star and can they show us any real awards that the company won with regards to ratings of their customer support?
The scam also claims that your first 5 trades will be insured. By who? We ask these questions and can’t get any answers because LionFXM is thriving on lies. If they are not regulated, they can’t insure your trades either.
Now, if you look at the physical address (Suite 305, Griffith Corporate Center, Kingstown, St. Vincent and the Grenadines), you will see that this address is commonly used by Forex scams. There are dozens of fraudulent brokers using this same address.
The address is where the company AXA Business Solution Ltd is allegedly residing. Investigating this address brings Griffith Corporate Centre. We called the phone number of the building (+18886651354) to inquire and got a rude shock. There is no AXA Business Solution Ltd in that building.
Also, why is a scam operating in Italy but seeking licensing in an offshore location?
LionFXM trading platform
They offer XOH trading software which is owned by a third-party called RXBT. This means that Lion FXM is probably a white label client of RXBT.
You need brokers who rely on MT4 and MT5 trading platform to fulfill the needs of their clients, not white label brokers that outsource everything from another broker.
Lion FXM minimum deposit, spread and leverage
The minimum deposit is $500. This is the amount which they’re willing to scam you if you cooperate with them.
On the other hand, LionFXM does not say anything about spreads and leverage.
This does not surprise us because every scam broker out there is always limiting information on their site to ensure that you know as little as possible about them.
What to do if you have been scammed by this broker
It is simple. If you lost a significant amount and want it back, start a chargeback process with the help of professionals. For that purpose, I included a form on this review and also a live chat function.
What they will do is to review your case and if you qualify, I assure you that you will get your money back.
This broker is dangerous for your trading. Committing any amount of money to LionFXM can be the beginning of disaster.
Even their website is not that inspiring, so we see no reason as to why you should fall for their cheap tricks.